Rio Tinto being Sued for Concealing Huge Deficit in Africa

SHANGHAI, Oct. 20 (SMM)－Rio Tinto released a statement, saying that when the court has considered all facts, it will reject claims from SEC. Two former senior executives of Rio Tinto also regard this accusation as invalid. But Rio Tinto also expressed that it has reached an accommodation with the British Financial Conduct Authority concerning asset write-downs problems of the same project. According to the accommodation, Rio Tinto is fined for 27.35 million pounds ($36 million), for the reason that Rio Tinto violated regulation concerning information disclosure and openness and it failed to conduct an asset write-downs evaluation in time.

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